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SCI - Shipping Of India News Story

₹56.95 2.2  4.0%

Last Trade - 07/08/20

Sector
Industrials
Size
Small Cap
Market Cap £269.4m
Enterprise Value £491.8m
Revenue £449.5m
Position in Universe 442nd / 3003

BUZZ-India's BPCL jumps to 21-month peak as govt panel approves sale

Tue 1st October, 2019 7:22am
** India's Bharat Petroleum Corporation Ltd  BPCL.NS  rises
as much as 8.8% to 511.55 rupees, its highest since January 2018
    ** India's government starts a sale process of state-run
BPCL, with a panel of government officials proposing to
privatise the oil refiner, two sources tell Reuters
    ** The panel approves to disinvest the government's stakes
in Shipping Corp of India  SCI.NS , Container Corp of India Ltd
 CCRI.NS , North Eastern Electric Power Corp Ltd  NOTR.NS , and
THDC India Ltd  THDC.BO  - sources 
    ** The move will require cabinet approval, which could take
up to one month
    ** The sources declined to be identified since they were not
authorised to discuss the matter with the media
    ** Reuters had reported last month that India aims to sell a
few state-owned firms, including BPCL to raise up to 600 bln
rupees ($8.5 bln) by March 2020  urn:newsml:reuters.com:*:nL3N26E1S9
    ** The broader Nifty energy index  .NIFTYENR  is up over 1%
    ** About 18.2 mln BPCL shares change hands vs the 30-day
average of about 10.1 mln

 (Reporting by Nallur Sethuraman)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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